Answer:
Statement is true
Explanation:
Internal control over financial reporting was designed to give assurance related to financial statements preparation and authenticity of financial reporting.
Material weakness refers to inefficiency in internal control which could lead to misstatement in financial statement thereby making financial reporting unreliable. As such, even one material weakness would prove ineffective internal control over financial reporting.
Answer:
FASB ASC 835-20-15-8
Explanation:
This section explicitly states that in order for interests to qualify for interest capitalization, the assets purchased through the loan must be getting ready for its intended use. E.g. if you want to capitalize the interests on the land, you must carry out activities necessary to prepare it for its intended use. Or if you purchase a machinery, you must be installing it in order to get it ready to produce.
Answer:
Contribution per unit
= Selling price - Variable cost per unit
= $27 -$13
= $14
Contribution margin ratio
= Contribution per unit
selling price
= $14
$27
= 0.518518518
Break-even point in dollars
= $1,400
0.518518518
= $2,700
Explanation:
Break-even point in dollars equals fixed cost divided by contribution margin ratio. Contribution margin ratio is equal to contribution per unit divided by selling price. Contribution per unit is selling price minus variable cost per unit.
Answer:
$4,350
Explanation:
Calculation to determine your net profit or loss on this investment
Net profit = (-$0.60 - $42.70 + $52) × 100 × 5
Net profit= $4,350
Therefore your net profit or loss on this investment is $4,350
Answer:
The Guidelines for how votes are counted and who can vote is a rule, it is backed up by the constitution as a way of directing the masses.
Choosing to campaign in states with a large number of electoral votes or so called swing states is a strategy, this involves coming up with the best approach or means to win in an election. Going to such states is a big strategy towards securing victory.
Emphasizing different messages to different voter groups is another strategy, this entails telling each of the people things that are their most needs in a bid to convince them to vote for you. It is a strategy that has always worked.
Securing endorsements and large campaign contributions is a payoff, it is an aftermath of popular acceptance by the people.
Limits on sources of fundraising and campaign contributions is a rule established by the states to encourage fair play in the electoral system or process.
Explanation:
see Answer
